The company's profits aren't huge: Netflix earned just $66 million on revenue of $2.79 billion during the quarter. But investors have shown that they're willing to forego massive profits now in exchange for breakneck growth.

Further Reading

The company's letter to shareholders also touts its content successes, boasting of its 91 Emmy nominations and successful new series like Stranger Things and 13 Reasons Why.

Together with its global expansion, Netflix is also increasingly producing non-English content like Ingobernable, a Spanish-language series which has been viewed by millions outside of Mexico, the country where it is set.

However, Netflix is also becoming more disciplined about its content. Netflix has renewed 93 percent of its original series so far, much higher than traditional TV networks, reports The Associated Press. But it's shown a willingness to drop TV shows that don't keep up with its expectations. In the second quarter, Netflix declined to renew both its sci-fi show Sense 8 and music drama The Get Down.

The company continues to borrow to produce more content. Netflix is currently spending $6 billion a year on content, and it told investors yesterday that those massive content purchases will produce negative cash flow "for many years."